Late-Summer Bounce Continues

Updated Sept. 13, 2004 12:01 a.m. ET

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The Trader - Part I

TRANSACTION FEES REPRESENTED $251 million of Archipelago's $275 million in first-half revenue, with $24 million coming from sales of quote data and a negligible amount from fees paid by companies to list their shares on the exchange.

Archipelago received an average transaction fee of 0.35 cents per share from investors...

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